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Gelneren [198K]
3 years ago
6

Joshua, Rachel, and Daniel formed an LLC to manage their accounting business. Joshua contributed $20,000 to the LLC. Rachel and

Daniel contributed $40,000 each. A year later, the LLC needed capital injection and Joshua lent a credit of $50,000. However, nothing could save the LLC and it entered bankruptcy and was dissolved. Joshua was the only creditor of the LLC. If a total of $50,000 was obtained after the sale of all the assets of the dissolved LLC, how much will Rachel get
Business
1 answer:
Alika [10]3 years ago
4 0

Answer: Rachael gets nothing.

Explanation:

According to the Revised Uniform Limited Liability Company Act (RULLCA), when all the assets of a limited liability company have been sold, the money gotten from the sale will have to be distributed first to the creditors of the limited liability company.

From the question, we are informed that Joshua gave the limited liability company $50,000 and we are further told that the sale of assets was $50,000 after the LLC was dissolved.

This means Joshua will get his $50,000 and there'll be nothing left which simply means that Rachael gets nothing.

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Risser Woodworking Corporation produces fine cabinets. The company uses a job-order costing system in which its predetermined ov
erma4kov [3.2K]

Answer:

Gross margin $22,346

Explanation:

The computation of the gross margin is shown below:

Sales             $66,300

less:

Direct material  $15,900

Direct labor   $14,430

Overhead $13,624 ($16,244 ÷ 310× 260)

Gross margin $22,346

Hence, the gross margin is $22,346

4 0
2 years ago
Julius, a collector and seller of Egyptian relics, hired Brutus to act as his sales agent. Julius later discovered that Brutus,
nekit [7.7K]

Answer: Julius is bound on this contract because Brutus had apparent authority

Explanation:

Based on the scenario and the information given, Julius is bound on this contract because Brutus had apparent authority.

Apparent authority simply refers to a scenario whereby means a principal in this case Julius is bound by the action of the agent that is, Brutus even though Brutus had no authority. Here, Anthony believed that Brutus had an authority to act not knowing that he had been fired.

6 0
2 years ago
When the Central Bank acts in a way that causes the money supply to increase while aggregate demand remains unchanged, it is
Paha777 [63]

Answer:

A) following an expansionary monetary policy.

Explanation:

Central Bank through the Federal Reserve can influence money supply in the economy. If it causes the money supply to increase while keeping the aggregate demand constant, it is following an expansionary monetary policy. This can occur in various ways like through decreasing interest rates, buying bonds in the open market operations; known as quantitative easing, or by lowering the reserve requirement ratio for banks and other financial institutions.

5 0
3 years ago
Dionne just learned that her company will be announcing layoffs at the end of the month. She is completely overwhelmed by the ne
pochemuha

The answer to the blank space is stress. To be more specific, what Dionne is experiencing a form of stress known as distress, because it is causing her negative or adverse effects, since she is overwhelmed because of it.

There is also another type of stress called eustress which will give the person who is perceiving it a better performance or even a better feeling.

3 0
3 years ago
When the carrying cost of inventory is expressed as a percentage: A. it is usually the same as the borrowing cost of the organiz
dimaraw [331]

Answer:

Option E It is multiplied by the material unit cost to calculate the per unit carrying cost.

Explanation:

The reason is that the carrying cost which is also known as holding cost is the cost of holding a unit material for a year and this can be calculated as:

Holding Cost is also given in percentage of material price and is calculate by multiplying it with the material unit cost to calculate the holding cost per unit per year.

So the option E is correct.

5 0
3 years ago
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